Rectification u/s. 154
This query is : Open
23 January 2013
Dear Sir/Madam,
In Form 16 deduction u/s.80E has been claimed and accordingly tax liability is calculated correctly in Form 16 for the A.Y.2010-11. But, By Mistake such deduction has not been claimed in the return of income filed for A.Y.2010-11, due to which there is tax liability arising.
Now, whether rectification application U/s. 154 can be made by producing Form 16?
Is there any other remedy for that?
Kindly give response at the earliest.
In Form 16 deduction u/s.80E has been claimed and accordingly tax liability is calculated correctly in Form 16 for the A.Y.2010-11. But, By Mistake such deduction has not been claimed in the return of income filed for A.Y.2010-11, due to which there is tax liability arising.
Now, whether rectification application U/s. 154 can be made by producing Form 16?
Is there any other remedy for that?
Kindly give response at the earliest.
24 January 2013
If you have received intimation U/s 143(1) of IT Act then you can rectify the same u/s 154.
25 January 2013
First of all Thanks for response.
No Sir, I have not received Intimation U/s.143(1). I have filed Paper Return for the A.Y.2010-11. Further, the demand is raised u/s. 143 (1a) as per the Outstanding Demand Status on IT e-Filing website.
Can it be said that assessment is made u/s. 143(1) as demand is raised u/s.143(1a)?
If yes, then Can I file rectification application u/s.154?
If no, then is there any other remedy for correction of mistake?
In hope of quick response...
No Sir, I have not received Intimation U/s.143(1). I have filed Paper Return for the A.Y.2010-11. Further, the demand is raised u/s. 143 (1a) as per the Outstanding Demand Status on IT e-Filing website.
Can it be said that assessment is made u/s. 143(1) as demand is raised u/s.143(1a)?
If yes, then Can I file rectification application u/s.154?
If no, then is there any other remedy for correction of mistake?
In hope of quick response...
26 January 2013
Yes, Assessment is completed u/s 143(1) and determining the demand. Since you have filed the paper return, you need to file written request for rectification of order u/s 154(2)by stating the requisite facts at your AO ward.
Finally, Since the time limit to file revised return is already being lapsed, the only option remained is make request for rectification of order u/s 154(2).
Finally, Since the time limit to file revised return is already being lapsed, the only option remained is make request for rectification of order u/s 154(2).
27 January 2013
Once again thanks for your valuable response.
What is the time limit for rectification u/s.154 for A.Y. 2007-08 and A.Y. 2010-11?
In hope of quick response.
What is the time limit for rectification u/s.154 for A.Y. 2007-08 and A.Y. 2010-11?
In hope of quick response.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
